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Chicago worthlessness deductionProPublica
•81% Informative
Losing a yearslong audit battle over the claim could mean a tax bill of more than $100 million .
The 92 -story, glass-sheathed skyscraper along the Chicago River is the tallest and, at least for now, the last major construction project by Trump .
The dispute could set a precedent for wealthy people seeking tax benefits from the laws governing partnerships.
Trump struck a deal in 2001 to acquire land and a building that was then home to the Chicago Sun-Times newspaper.
Two years later , after publicly toying with the idea of constructing the world’s tallest building there, he unveiled plans for a more modest tower.
Trump planned to sell enough of the 825 units to pay off his loans when they came due in May 2008 .
But sales did not pick up that summer , with the nation plunged into the financial crisis that would become the Great Recession .
Trump defaulted on his loans and sued his lenders.
Trump had good reason to fear an audit of the deduction, tax experts say.
They believe that Trump ’s tax advisers pushed beyond what was defensible.
VR Score
84
Informative language
84
Neutral language
39
Article tone
informal
Language
English
Language complexity
48
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
8
Source diversity
6
Affiliate links
no affiliate links